Low Carbon Accelerator Limited Limited (LCA), an AIM-listed company focused on investing in low carbon businesses, has announced two further investments in the USA and in the UK.
LUMEnergi Inc., a Santa Clara, CA-based provider of energy efficient networked lighting systems, has received a $533,333 (£330,000) investment from LCA as part of a $1m funding round provided with co-investor Noventi Ventures.
This funding represents an extension to the existing convertible loan note announced on August, 11, 2009 and brings LCA’s total investment in the company to $5.3m, of which $4m represents an equity stake of 25.3% and $1.33m represents the convertible loan.
In addition, LCA has agreed a further £750,000 convertible loan to QuantaSol Limited, a UK-based manufacturer of single and multi-junction concentrator solar cells.
The transaction, part of a £1.5 convertible loan investment from existing shareholders, brings LCA’s total investment in the company to over £3,125,000 (a 41.4% holding stake).